IndiGrid has commissioned its 180 MW/360 MWh battery energy storage system (BESS) project in Gujarat. The project was developed jointly by IndiGrid and EnerGrid. Gujarat Urja Vikas Nigam Limited (GUVNL) is the offtaker for the project.
IndiGrid secured the project at a tariff of Rs 449,996 per MW per month. The project secured funding from the International Finance Corporation (IFC) in July 2025, which committed $55 million through a subscription to listed non-convertible debentures.
In June 2025, IndiGrid signed definitive agreements to acquire two operational infrastructure assets, one solar project and one transmission project, in separate transactions. These deals represent a combined enterprise value of approximately Rs 21.08 billion. Including net working capital and cash adjustments, the total enterprise value rises to about Rs 21.75 billion.
